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Jul 11, 2011
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here now is jason brooks with kcbs and cbs moneywatch dot com. debt is pretty much the focus of the marketâu-s and europeâi'll chat about that and hit the numbersâ.will be a tighter hit jason brooks from kcbs and cbs moneywatch dot com. thanks. thanks. the good news couldn't last forever.. the price of gas is on its way up again in the bay area. after months of steady declines, the price has inched up to an average of 3-87 in san francisco. in oakland the average price is now 3-77. and in san jose it's averaging 3-78. analysts say the price may reach four dollars a gallon in the next few weeks. if the current iphone is out of your price range - you may soon have a new option. apple will reportedly sell a cheaper iphone this fall to compete with the growing android market. the new low end phone would work with prepaid networks. for those who are willing to pay full price - the iphone five will also be released this fall. dogs, may be welcome again in downtown santa cruz. the city banned them in 1976, after complaints about waste and aggressive
here now is jason brooks with kcbs and cbs moneywatch dot com. debt is pretty much the focus of the marketâu-s and europeâi'll chat about that and hit the numbersâ.will be a tighter hit jason brooks from kcbs and cbs moneywatch dot com. thanks. thanks. the good news couldn't last forever.. the price of gas is on its way up again in the bay area. after months of steady declines, the price has inched up to an average of 3-87 in san francisco. in oakland the average price is now 3-77. and in...
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Jul 1, 2011
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here now to talk about it jason brooks with kcbs and cbsmoneywatch.com. happy friday, jason. >> good morning, frank. good morning, grace. better late than never. that's the case for hewlett- packard as they debut their touchpad tablet device today around stores. getting a lot of publicity. hp going to hit hard putting out its own employees in various stores around the country to try and push the device. it's got the same price starting point as the ipad of $499. but the question is, how will the touch pad differentiate itself from a whole host of other tablet devices out there? the tablet market has just been exploding. gartner says it's going to quadruple sales to 70 million units while pc sales growth has been weakening. hp shares are up just slightly on that news this morning. >>> kodak was hoping to win possibly upwards of $1 billion in licensing deals with apple and blackberry maker research in motion if they could wrangle a win in a patent violation lawsuit concerning digital preview image technology in cameras. but a international trade commission
here now to talk about it jason brooks with kcbs and cbsmoneywatch.com. happy friday, jason. >> good morning, frank. good morning, grace. better late than never. that's the case for hewlett- packard as they debut their touchpad tablet device today around stores. getting a lot of publicity. hp going to hit hard putting out its own employees in various stores around the country to try and push the device. it's got the same price starting point as the ipad of $499. but the question is, how...
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Jul 14, 2011
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here's jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: good morning, grace. good morning, elizabeth. some decent news for the job market for a change. first time weekly unemployment claims dropped by 22,000 last week to 405,000 the lowest in three months. need to see that get below 400,000 but after the past two disappointing reports for may and june, we'll take any decent news on the job market. absolutely critical to getting the economy going in the right direction because that will fuel consumer spending. as a result of the weak job market, we didn't see a whole lot of consumer spending in june. retail sales increased by only .1%. and that was mainly a function of higher automobile sales. you factor those out, sales are flat. and in the drop in oil prices, as a result gasoline prices, really socked it to gas stations. sales dropped 1.3%. and that drop in oil prices also impacted wholesale side inflation that fell about .4% last month. and that will probably result in a drop for consumer inflation, as well. th
here's jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: good morning, grace. good morning, elizabeth. some decent news for the job market for a change. first time weekly unemployment claims dropped by 22,000 last week to 405,000 the lowest in three months. need to see that get below 400,000 but after the past two disappointing reports for may and june, we'll take any decent news on the job market. absolutely critical to getting the economy going in the right...
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Jul 5, 2011
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okay, thank you. >> jason brooks with kcbs and cbsmoneywatch.com thank you. >>> well, a few days ago we told you that facebook was gearing up to make a very big announcement. >> the only thing we knew was that it was being called awesome. this morning, we are learning a little bit more about that announcement. cnet's editor at large brian cooley joining us this morning. >> you always set the bar high when you tell the world we have something awesome. that's part of the culture. >> do you know more than we know? >> reporter: i have some good guesses. first of all, one of the odds on things they may announce tomorrow a 10 a.m. press conference at the palo alto headquarters might be an app. this is the current facebook app for the ipad. it's an iphone app that's tiny so that's one of the first things is to get an ipad app that fill your screen and use up the real estate. >> people will be surprised. >> reporter: just the iphone app so this is probably a lock if they are going to announce that tomorrow i hope or they are really late. now, what's going to be in that app is what's interest
okay, thank you. >> jason brooks with kcbs and cbsmoneywatch.com thank you. >>> well, a few days ago we told you that facebook was gearing up to make a very big announcement. >> the only thing we knew was that it was being called awesome. this morning, we are learning a little bit more about that announcement. cnet's editor at large brian cooley joining us this morning. >> you always set the bar high when you tell the world we have something awesome. that's part of...
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Jul 7, 2011
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here now jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: good morning. this is the kind of news we really want to see. hiring on the upswing. it fell off during the swing. a couple of reports show promise. the labor department says first time weekly unemployment claims fell by 14,000 this week to the lowest level in 7 weeks. we hope for a trend in the right direction. private payroll processor adp says 157,000 new jobs were added to the economy in june. that was more than double the expectation and a lot better than may with only 36,000 new jobs and a promising sign going into the monthly jobs report for tomorrow. jobs still really lagging in a key piece of the economy that needs to improve to show better growth overall for the economy. also a couple of decent reports for local retailers. san francisco-based gap saw 1% sales gain across its three chains a lot better than expected and a nice change of pace. they have been struggling. ross stores saw sales increase 5% that. too beat expectations. as a result of all of that, the stock market doing well at t
here now jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: good morning. this is the kind of news we really want to see. hiring on the upswing. it fell off during the swing. a couple of reports show promise. the labor department says first time weekly unemployment claims fell by 14,000 this week to the lowest level in 7 weeks. we hope for a trend in the right direction. private payroll processor adp says 157,000 new jobs were added to the economy in june. that was...
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Jul 19, 2011
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we'll ask kcbs moneywatch reporter jason brooks. navigating today's real estate market is complicated. you've seen the signs. that's why having the right real estate agent is more important than ever. at remax.com, you can find experts in short sales or bank-owned properties or commercial real estate, agents who can help speed up the process, no matter how intricate. and that's good news, whether you're trying to sell or hoping to buy. because the only sign you really want to see is "sold." nobody sells more real estate than re/max. presenting woolite complete. it cleans your jeans, and won't torture your tanks. so your clothes stay looking and fitting like new. woolite. long live your wardrobe. [ woman ] sam begged and pleaded... so i sent him to camp. we'd earned lots of points with our new citi thankyou card... and i put them to good use. he told me about his bunkmates, and how he signs up for every activity. ♪ he even hangs out with the camp director. just like that. [ male announcer ] the new citi thankyou premier card gives
we'll ask kcbs moneywatch reporter jason brooks. navigating today's real estate market is complicated. you've seen the signs. that's why having the right real estate agent is more important than ever. at remax.com, you can find experts in short sales or bank-owned properties or commercial real estate, agents who can help speed up the process, no matter how intricate. and that's good news, whether you're trying to sell or hoping to buy. because the only sign you really want to see is...
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Jul 6, 2011
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okay, jason brooks with kcbs and cbsmoneywatch.com. thank you. >>> well, if you have a question for the president, keep it under 140 characters. >> that is the rule. president obama hosting a town hall meeting via twitter at 11:00 this morning. the event is going to focus on jobs and the economy. he will give verbal answers in front of a live audience at the white house. >>> well, it may be a new low for even britain's tawdry tabloids. >> the news of the world that been accused of hacking into a teenager's cell phone jeopardizing a police investigation into her disappearance. and subsequent death. the newspaper allegedly hacked into the teen's phone to hear desperate messages from family members. some of those message were deleted giving the family hope that the girl could have been alive and dialing into her voicemail and maybe deleting them herself. the girl was later found dead. british media also reports the parents of two schoolgirls murdered in 2002 were told by police that they were investigating whether the news of the world al
okay, jason brooks with kcbs and cbsmoneywatch.com. thank you. >>> well, if you have a question for the president, keep it under 140 characters. >> that is the rule. president obama hosting a town hall meeting via twitter at 11:00 this morning. the event is going to focus on jobs and the economy. he will give verbal answers in front of a live audience at the white house. >>> well, it may be a new low for even britain's tawdry tabloids. >> the news of the world that...
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Jul 12, 2011
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here now is jason brooks with kcbs and cbsmoneywatch.com. not such good news, jason. >> reporter: no, grace. the rumors are really churning when it comes to cisco. bloomberg reports that cisco will cut up to 10,000 jobs next month topping a claim by an analyst who says cisco is poised to cut about 5,000 jobs which would be about 7% of the workforce and save the company about $1 billion a year. cisco has been under a lot of pressure to cut back on a number of lines, consumer products, killed the flip video camera line earlier in the spring. and it's also reorganizing a number of its divisions. new layoffs will be coming, don't know the number. the company probably won't say anything until its earnings come out in august. the company is holding an event in las vegas to show off the latest upgraded switcher, its main core technologies being switchers and routers. it has about 70% of the market but it's feeling the pressure from other companies including hewlett-packard. >>> stock market fell quite a bit yesterday mainly on debt worries. both th
here now is jason brooks with kcbs and cbsmoneywatch.com. not such good news, jason. >> reporter: no, grace. the rumors are really churning when it comes to cisco. bloomberg reports that cisco will cut up to 10,000 jobs next month topping a claim by an analyst who says cisco is poised to cut about 5,000 jobs which would be about 7% of the workforce and save the company about $1 billion a year. cisco has been under a lot of pressure to cut back on a number of lines, consumer products,...
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Jul 22, 2011
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>> thank you, jason brooks with kcbs and cbsmoneywatch.com. have a good weekend. >> reporter: you, too. >>> blistering temperatures are expected once again today in parts of the midwest and the northeast. >> already, that heat wave is blamed for more than 20 deaths. and as carla sues tells us the heat wave is affecting millions. >> reporter: soaring temperatures on the national mall. more than 30 states are baking under a heat advisory. a wave that's taken lives and put millions on high alert. but in the capital, some tourists are taking it in stride. >> extremely hot but, you know, we can take it. >> reporter: antoine toller from north carolina hundreds of miles away but still under the same heat blanket. and looking questions? >> well, we have had triple digits figures in texas in houston. >> reporter: cooling centers became boston's oasis. ice sold faster than could melt in cleveland. and kids from columbus to the capital cooled off the old- fashioned way. people liketals a welder from texas didn't need advice on how to handle the heat. >>
>> thank you, jason brooks with kcbs and cbsmoneywatch.com. have a good weekend. >> reporter: you, too. >>> blistering temperatures are expected once again today in parts of the midwest and the northeast. >> already, that heat wave is blamed for more than 20 deaths. and as carla sues tells us the heat wave is affecting millions. >> reporter: soaring temperatures on the national mall. more than 30 states are baking under a heat advisory. a wave that's taken lives...
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Jul 15, 2011
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we'll see how it's doing with jason brooks with kcbs and cbsmoneywatch.com. jason, as if google needed this boost, right? >> reporter: well, grace, actually we kind of forgotten what it was like for google to be a real growth company when it comes to profit and its revenues. it's really struggled on wall street over the past several months but its latest earnings really knocked one out of the park. its profit rose 36% to $2.5 billion. revenue up 32% crossing $9 billion in a quarter for the first time. google is embarking on a lot of ambitious projects including its latest social networking effort google plus. it says it's already signed up 10 million users in just the first couple of weeks. investors have been very concerned about google's spending. it's been on a hiring spree. it added another 2400 employees in this past quarter. that's on top of 2,000 in the 1st quarter. google shares are responding to that report. they are up about 13% early on this morning. >>> clorox, which is based in oakland, makes a whole host of different consumer products from glad
we'll see how it's doing with jason brooks with kcbs and cbsmoneywatch.com. jason, as if google needed this boost, right? >> reporter: well, grace, actually we kind of forgotten what it was like for google to be a real growth company when it comes to profit and its revenues. it's really struggled on wall street over the past several months but its latest earnings really knocked one out of the park. its profit rose 36% to $2.5 billion. revenue up 32% crossing $9 billion in a quarter for...
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Jul 21, 2011
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. >> with more on that here's jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: good morning. unfortunately, weekly unemployment claims surged higher last week up 10,000 to 418,000. this following a pretty big drop the week before which had sort of given us some optimism that perhaps the market was going to head the right way but this has been indicativity past three months to get a drop one week and then heading higher the next week after that. we have yet to see claims fall below 400,000 in the past three months. need to be below that point to indicate that job hiring is going under way in an ernest fashion. so that's a problem for the markets. a lot of earnings are out including a number from the silicon valley. intel reporting that it saw its profit increase 2% to $2.9 billion. its profit would have been higher if not for a couple of major purchases buying mcafee as well as infineon. and intel does say that it's seen an increase in shipped sales to pc makers selling their pcs toists with as well as an increase in pc sales to develop
. >> with more on that here's jason brooks with kcbs and cbsmoneywatch.com. good morning. >> reporter: good morning. unfortunately, weekly unemployment claims surged higher last week up 10,000 to 418,000. this following a pretty big drop the week before which had sort of given us some optimism that perhaps the market was going to head the right way but this has been indicativity past three months to get a drop one week and then heading higher the next week after that. we have yet to...
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Jul 20, 2011
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here's jason brooks with kcbs and cbsmoneywatch.com. jason, it's a good day if you own apple stock, right? >> reporter: stop me if you have heard had before. another blockbuster quarter for apple and another lackluster quarter for yahoo. that's exactly what we saw again in the 2nd quarter. apple blowing away expectations. profit more than doubling to $7.3 billion. revenue up 82% to $28.6 billion. these were record quarterly numbers for apple. they sold more than 20 million iphones. 9.3million ipads in the quarter. the numbers just continue to get better. then you have yahoo. now, their earnings were pretty much in line with expectations at $237 million on the profit side. but revenue was lower than a year ago. $1.08billion. the key, key metric for yahoo fell in the latest quarter that's display advertising revenue. and it's continuing to fall further behind google and facebook is really gaining some ground on yahoo. that's been yahoo's bread and butter for a long time putting more pressure on carol bartz. apple shares are higher by 3.5%
here's jason brooks with kcbs and cbsmoneywatch.com. jason, it's a good day if you own apple stock, right? >> reporter: stop me if you have heard had before. another blockbuster quarter for apple and another lackluster quarter for yahoo. that's exactly what we saw again in the 2nd quarter. apple blowing away expectations. profit more than doubling to $7.3 billion. revenue up 82% to $28.6 billion. these were record quarterly numbers for apple. they sold more than 20 million iphones....
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Jul 18, 2011
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meanwhile former "news of the world" ceo rebekah brooks is out on bail after her arrest on suspicion of corruption and intercepting communications. her attorney denies all the charges. >>> had may not be carmageddon for bay area drivers but there is a bridge closure that commuters want to know about happening in the near future. >> and a passenger refuses security screening at the airport. how she turned the tables on the tsa agent and got arrested for it. >>> a nice day to be flying out of san francisco today. partly cloudy conditions but temperatures today warmer than what we were seeing last week. we'll hit 70 today and even warmer in other parts of the bay area. as you make your way farther to the east, we are seeing much warmer conditions. chicago hitting 94 today. and we are seeing a chance of thunderstorms and rain. about a 40 to 50% chance there. and more wet weather as we continue to new york, temperatures there today topping out at 90. another chance of thunderstorms and rain there and i'll have a full look at the bay area forecast coming right up. ,,,,,,,,,,,,,,,,,, invest
meanwhile former "news of the world" ceo rebekah brooks is out on bail after her arrest on suspicion of corruption and intercepting communications. her attorney denies all the charges. >>> had may not be carmageddon for bay area drivers but there is a bridge closure that commuters want to know about happening in the near future. >> and a passenger refuses security screening at the airport. how she turned the tables on the tsa agent and got arrested for it. >>>...
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here now is jason brooks with kcbs and cbsmoneywatch.com. jason, we just saw all the indices looking down this morning. >> reporter: and this is not the news we wanted to see this morning. it's incredibly disappointing and really a surprise. we had gotten communications that the job market seemed to be picking up. private payroll processor adp is looking for a gain of 157,000 jobs in the private sector. but as it turns out, according to the labor department, only a gain of 57,000 privately labor jobs but then the public sector cut 39,000 jobs so you wind up with a net gain of only 18,000 jobs. that was less than in may which was only 25,000. very weak numbers. need to see at least 125,000 new jobs each month just to keep up with new people coming into the workforce. as a result of all of that the unemployment race rose from 9.1 to 9.2% and the underemployment rate including those who are working part time and would rather work full time that rose from 15.8 to 16.2%. now, other things like average weekly earnings and they were flat for last m
here now is jason brooks with kcbs and cbsmoneywatch.com. jason, we just saw all the indices looking down this morning. >> reporter: and this is not the news we wanted to see this morning. it's incredibly disappointing and really a surprise. we had gotten communications that the job market seemed to be picking up. private payroll processor adp is looking for a gain of 157,000 jobs in the private sector. but as it turns out, according to the labor department, only a gain of 57,000...
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Jul 13, 2011
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about america's debt limit in just a few minutes on capitol hill. >> with more on that here's jason brooks with kcbs and cbsmoneywatch.com. good morning. >> good morning. fed chairman ben bernanke going before the house financial services committee in just a little while. two things will happen. he will press congress to get a deal done on raising the nation's debt ceiling. otherwise, the nation could face a calamitous economic crisis. the other thing is, they are going to be grilling bernanke on monetary policy. there is a lot of uncertainty from the fed governors on the employment situation and as well as where inflation is headed. some fed members even hinting that we might need a third round of quantitative easing if the job market does not improve quickly enough. electronic arts getting more into social gaming. it's buying pop cap games out of seattle for about $750 million when you include debt as part of the purchase. pop cap behind popular series like bejeweled and zombies versus plant. and social gaming is really growing. mpd group just issued a report saying that in the 1st quart
about america's debt limit in just a few minutes on capitol hill. >> with more on that here's jason brooks with kcbs and cbsmoneywatch.com. good morning. >> good morning. fed chairman ben bernanke going before the house financial services committee in just a little while. two things will happen. he will press congress to get a deal done on raising the nation's debt ceiling. otherwise, the nation could face a calamitous economic crisis. the other thing is, they are going to be...